Short Titles as IntroducedSECURE ActShort Titles as IntroducedStop Errors in Credit Use and Reporting ActOfficial Title as IntroducedA bill to enhance the accuracy of credit reporting and provide greater rights to consumers who dispute errors in their credit reports, and for other purposes.Display TitleSECURE ActFinance and Financial SectorAdministrative law and regulatory proceduresChild safety and welfareCivil actions and liabilityComputer security and identity theftCongressional oversightConsumer Financial Protection BureauConsumer creditGovernment information and archivesGovernment studies and investigationsLegal fees and court costs2015-07-232016-03-09T19:55:16ZStop Errors in Credit Use and Reporting Act or the SECURE Act

This bill amends the Fair Credit Reporting Act, with respect to civil liability for either willful or negligent noncompliance by a consumer reporting agency with respect to consumer credit protection requirements, to authorize a court to award: (1) injunctive relief to require compliance with that Act, and (2) costs and reasonable attorney fees to the prevailing party in any successful action for injunctive relief.

A consumer reporting agency shall include, in its mandatory notification to a furnisher of disputed information in a consumer's file, all documentation provided by the consumer.

The furnisher of disputed information, upon notification of a dispute, shall review and consider all documentation provided by the consumer.

The Consumer Financial Protection Bureau (CFPB) shall: (1) prepare, and deliver to appropriate parties, reports concerning disputed information received by consumer reporting agencies; and (2) prescribe rules for the gathering of information relating to such disputes.

The CFPB shall also establish mandatory procedures for a consumer reporting agency to follow to assure maximum possible accuracy of all consumer reports.

A consumer reporting agency must give a consumer a credit score free of charge if one is requested in connection with a free annual consumer report.

A consumer reporting agency must also provide free disclosures, even without consumer request, to any consumer who has received either a notice of adverse action or an offer of credit on materially less favorable terms. (Present law requires such disclosure only if the consumer so requests).

Upon request by a consumer under age 16 (minor consumer) or the consumer's legal guardian or custodian, a consumer reporting agency must create a blocked file (with name, Social Security number, date of birth, and any credit information) for the minor consumer, or convert to a blocked file a file of the minor consumer already in existence.

The Government Accountability Office shall study: (1) credit systems in the international credit system with government-administered consumer credit reporting systems; and (2) the feasibility of a national, U.S. government-administered consumer credit reporting system.

]]>Introduced in Senate2015-07-23T04:00:00Z00Introduced in SenateW0008172182Elizabeth2015-07-23TrueSen. Warren, Elizabeth [D-MA]MADW000817WarrenA.20768332B001277Richard2015-07-23TrueSen. Blumenthal, Richard [D-CT]CTDB001277Blumenthal1010S0000338270BERNARD2015-07-23TrueSen. Sanders, Bernard [I-VT]VTIS000033SANDERS19008238M001176Jeff2015-07-23TrueSen. Merkley, Jeff [D-OR]ORDM001176Merkley18208252M001170Claire2015-07-23TrueSen. McCaskill, Claire [D-MO]MODM001170McCaskill1847SECURE Act2112015-07-23Banking, Housing, and Urban Affairs Committeessbk000SenateRead twice and referred to the Committee on Banking, Housing, and Urban Affairs.IntroReferral9Library of Congress10000IntroReferral2015-07-23Introduced in Senate2015-07-28T14:38:41ZSSenateS0011942173BrianSen. Schatz, Brian [D-HI]HIS001194SchatzDssbk00Banking, Housing, and Urban Affairs CommitteeSenateStandingReferred to2015-07-23T15:19:19Z2015-07-23Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.2015-07-231.0.02018-07-30T13:43:31Z114Finance and Financial Sectortext/xmlENPursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.Congressional Research Service, Library of CongressThis file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.